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Kronos History

1977-1986

1987-1996

1997-2006

2007-Present

It started with a simple idea from Massachusetts Institute of Technology (MIT) graduate Mark S. Ain: there had to be an easier way to record employee time transactions. With a small team of engineers, a hunger for success, and a small office space in an old ironworks building in Brighton, Mass., this idea became Kronos Incorporated on October 31, 1977.

After working through a series of prototypes, it was in 1979 that Kronos delivered and patented the first microprocessor-based time clock which automatically recorded, totaled, and reported employee hours. This time clock facilitated the transformation of an industry that had not seen innovation in many years.

Perseverance paid off and Kronos began to expand. By the mid 1980s, Kronos had opened its first direct office in Chicago to supplement its dealer network, and introduced a PC-based time and attendance product to complement its hardware business.

As sales increased and Kronos added more employees to support the demand for its products, the company relocated to Waltham, Mass.

In the late 1980s, Kronos completed its first of many dealer acquisitions as the company focused on transitioning to a direct sales channel.

During this timeframe, with strong success in North America, Kronos expanded internationally, establishing a presence in the United Kingdom, Mexico, and Australia.

In 2000, Kronos moved its global headquarters to Chelmsford, Mass., where today the company is the city's largest private employer. During this period, Kronos surpassed $500 million in annual revenue. Kronos' impressive streak of growth and profitability resulted in recognition such as: Business 2.0 "100 Fastest-Growing Companies", BusinessWeek "Hot Growth Companies", and Forbes "Best Small Companies".

When Mark Ain turned over the CEO role to his brother Aron Ain in 2005, he had been the longest-running founder leading a technology company in Massachusetts. Mark assumed the role of chairman of the board of directors, a title he still holds today.

The company verticalized its operations in a major go-to-market strategy shift, developing even deeper vertical-specific expertise and product functionality to meet the unique needs of its target markets. Its vertical expertise remains a unique differentiator for the company today.

In 2007, Kronos was acquired by private equity firms Hellman & Friedman and JMI Equity, a move which enabled the company to grow more rapidly by investing more funds back into the business. In 2013, Kronos completed its 65th acquisition. In 2014, private equity firms Blackstone and GIC invested in Kronos alongside Hellman & Friedman and JMI Equity. In the transaction, Kronos was valued at $4.5 billion. In 2012, Kronos completed its 64th acquisition.

The company now employs more than 3,800 "Kronites" around the world and has technology centers in India, Montreal, and the U.S.

Kronos has a fundamental belief that staying competitive is complex, and a company's workforce management system shouldn't have to be. With that belief in mind, Kronos has been delivering game-changing products that are easy to use and own.

With its intense focus on continuous innovation, Kronos has facilitated a revolution in how organizations manage their workforce. Harnessing the power and intuitiveness of consumer-based technologies, the company has developed innovative solutions that instantly engage users through a familiar and inviting user experience. This next generation of Kronos workforce management solutions leverages real-time data to guide decision-making for managers. And the solutions enable organizations to manage in the moment, providing on-the-go access and communication between managers and employees.

Kronos now helps organizations in more than 100 countries to control labor costs, minimize compliance risk, and improve workforce productivity. The Kronos steadfast focus on helping customers achieve their objectives has resulted in the company being recognized as an organization that offers exceptional customer service and consistently exceeds customer expectations.

Today, as a $1 billion global enterprise software company, Kronos is widely recognized by industry analysts as the global leader in the workforce management market. More than 30 million people around the world use a Kronos solution every day.

Kronos. Workforce Innovation That Works.

The First Microprocessor-based Time Clock

A glitch in an early time clock model caused the units to catch fire. Thankfully, this problem was solved prior to testing with customers.

Early Days

The early days were far from glamorous. Mark set out to solicit companies to beta test the prototype, and the first customer deliveries were in a station wagon driven by his brother Aron (who would later become CEO).

Setting the Tone

Some of the early time clocks were orange, as this is Mark Ain's favorite color. The company's time clocks are no longer orange, but the color is still prominent in the Kronos logo and brand design elements.

Going Public

In 1992, Kronos issued its initial public offering and began trading on the NASDAQ stock market. Soon thereafter, Kronos exceeded $100 million in annual revenue for the first time in the company's history.

Hollywood Debut

In 1993, a Kronos time clock debuted in Hollywood, appearing in Mrs. Doubtfire starring Robin Williams, Sally Field, and Pierce Brosnan. In the movie, Robin Williams' character uses a Kronos time clock to punch into work.

Enterprise Software Company

Originally known for taking the time clock industry by storm, Kronos ultimately became known as an enterprise software company, introducing its first client/server-based time and attendance product in 1996. Since then, the company has continually re-architected its products to take advantage of technology advancements and facilitate shifts in how organizations manage their workforce.

Salesman to CEO

Current Kronos CEO Aron Ain holds the distinction of being Kronos' first service person and first salesman.

25th Anniversary

Advancing Hardware Offerings

Kronos also continued to advance its hardware offerings, introducing a telephony-based data collection product and a web-based time clock that included biometrics capabilities.

International Expansion

Continuing its path of international expansion, Kronos established a deeper presence in the Asia-Pacific region by opening offices in China and Singapore to serve the needs of multinational customers and local businesses. Some of its international expansion has been through company acquisitions and resellers, although the majority has been achieved by establishing a direct presence in various regions.

Redefining Workforce Management

The company's award-winning user experience is as easy to use and navigate as Facebook. According to one industry analyst, "When I saw Kronos' new user interface, my jaw dropped. This will redefine the way organizations manage their workforce."

Anytime Anywhere Access

More Than Just a Time Clock

The revolutionary, award-winning time clock, the Kronos InTouch, is built for today's modern workforce, with its cloud-ready architecture and unrivaled user experience. As another industry analyst said, "The Kronos InTouch looks more like a GPS or mobile device than a time clock."

Shifting to the Cloud

Under Aron Ain's leadership in recent years, Kronos has led the workforce management market's shift to the cloud, allowing organizations large and small to more easily deploy and manage their applications.